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On the Daily bar, price is getting choked at the Daily open level. This is causing the congestion on the smaller time frames in the short term. There's been no new Daily high or low based on yesterday's high and low, so this further frustrates price and causes even more congestion. So, I'll sit tight and be patient while waiting for a good OmegaWave to float by.

Entry came a little early in the OmegaWave cycle this time. You might notice the use of some Fibonacci ratios today. I spent most of the evening after trading, working on finding a better way to enter OmegaWave trades as early as possible without increasing risk proportionately. I'm basically using what I call the M1-127 Entry protocol. It uses the M1 chart to locate 2B Vic Entries, but modifies the entry rules that 2B Vic utilizes.

H1 time frame seems to be having some difficulty striking the Minimum Omega-Abs consistently today. This is probably caused by the proximity to the Daily open, which has already been breached to the upside multiple times today and rejected in favor of downside pressure. Momentum trades are obviously dependent upon Omega-Abs follow through. Failure to continue the short term Trajectory results in stalled hour bars and congested price areas. There was a lot of that earlier in the EURUSD session today, during the U.K. period.

Since MnO has not yet been reached, I am removing target 1 and seeking target 2. MnO (Omega-Absolute = 45 pips) just breached with 12 minutes remaining in the H1 bar. The Daily open has been retraced fully. Whether or not the market can sustain that pace remains to be seen, but MxO (Maximum Omega-Absolute = 74 pips) is still lurking.

Closing position ahead of the hour by 6 minutes.

1500 hour pending...

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Results:

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Last Omega-Absolute Value bar (Yellow bar inside H1 Indicator Window) reached 60 pips. So, it passed the Minimum Omega-Absolute Value (MnO), but failed to reach Maximum Omega-Absolute Value (MxO). There have been two bars during the U.K. session that came close to MxO, but did not strike it. MxO typically gets struck at least one time per Daily session during normal EURUSD price behavior.

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I entered right on the head of a downward spike against the position, so this one is a rough start. I may do a quick release on the 1st target and might not have the time to post it quickly.

MnO = 1st target
MxO = 2nd target

MnO has not yet been struck for this bar, but there is still 35 minutes remaining in the 1500 H1.

A rather bizarre hour that ended up fading short. I will hold this draw into the next hour and set a target for BE. Again, no strike on MnO this hour - a rather odd occurrence. Directional quality of the market was Long, MnO had not been reached, so that kept me in the position and it should be the same things that make BE possible - we'll see.

Most OmegaWave trades should terminate by the end of the hour. This will be the first OmegaWave trade Hold put on today.

1600 = 1500 Long hold.

Targets 1 and 2 have been revised for 1600. If the newly revised target 1 of the 1600 hr remains intact, then the OmegaWave should take price to BE like a laser guided missile -IF- (that's if) OmegaWave does not enter its Compression Phase. Having said that, with Friday being a short session, the OmegaWave just might be going into hibernation for the week, which puts this trade into another Draw Trap and forces a Weekend Hold.

Targets 1 and 2 have been revised again for 1600, pushing the MnO target (3541.3) below the estimated BE point. So, this trade is officially in a Draw Trap, making recovery 100% of BE less than likely.

*** 1st and 2nd targets version 4 *** *** Targets are dynamic and will be revised again ***

1500 OmegaWave got caught with its pants down in a Draw Trap. 1600 OmegaWave got triggered just underneath its MnO, which means it that price has a chance to extend through the OmegaWave cycle if it continues to the upside. So, there will be no Weekend Hold on 1500 OmegaWave.

Will be looking for some revival of upside tendency during H1 1700.

End of 1600 came with no follow through on its targets as Omega-Abs exhausted near 3502. So, at this point, the 1500 OmegaWave trade went out of phase and slid into 1600 which had no follow through and was directionally opposed to 1500. Looking for corrective OmegaWave to begin with 1700 from very near its open level. If that happens, recovery is somewhat likely, as MxO has still not been struck in today's session.

1600 = 1700 Hold Long. Target revision (above).

At this stage, the only saving grace for the failure of OmegaWave 1500, is OmegaWave 1700 and its Maximum Target, which is MxO = 3531.8. That would give 47.9 net pips back and right the ship before too much OmegaWave compression sets in for the session.

This is a critical H1 bar, as the entire H1 sub-straight is attempting to transition from Short Trajectory to Long Trajectory. This is another reason why we see so much H1 Omega-Absolute weakness in the market today. Recall what I said earlier in the thread about major "trend" changes on the horizon when H1 Omega-Absolute performance starts to compress.

If this H1 candle can remain in its Spinning Top configuration or better, then that will help to facility the H1 time-frame reversal, which actually began yesterday mid-session.

That was two very slowly changing moving average cross-overs on the M1 (using MA8 and MA21) just took place back-to-back. The first came during the 1500 hour to the Short side and the second is underway now in the 1700 hour to the Long side. If the second M1 cross-over is sustained, then that would provide more support for an eventual H1 MA8/MA21 cross-over in several hours - to the Long side of the market. More indication of an eventual H1 sub-straight transition from the Short Trajectory to the Long Trajectory.

1st 1700 target has been struck on MnO. Awaiting arrival of 2nd target at MxO. Omega-Abs has still not yet seen its MxO today. So, that is still lurking.

Note:

1700 = 1800. Holding Long.

Targets 1 and 2 have been revised (see profile above). Version 2 of the target revision has brought the 1st target back above the BE level. If target 2 holds and MxO is struck, that will yield a profit of roughly +30 pips.

Another M1 impending cross to the downside, putting the trade once again in direct contention with the OmegaWave. Also, creating another out of phase OmegaWave event. However, the market have have a good chance of reversing this downside move on the M1, and resume the upward move through the H1 time frame.

Targets 1 and 2 have been revised (see profile above). Version 3, lowers both targets and moves target #1, out of contention as the restoration move to BE. Target two, however, still has restoration potential. Market should not move below 3465 during 1800.

A weak 2B Vic Long Entry tried to form, underneath this current OmegaWave Long Hold, but it does not seem to want to catalyze the move upward. Omega-Absolute on this our expanding downward and still out of phase with current position on weak Omega-Absolute performance. Only a slight improvement of the earlier Draw Trap.

Another very smooth M1 MA8/MA21 roll over the top to the downside this hour, placing the Low Peak of the 1800 hr M1 MA8, above the Low Peak of the 17 hr M1 MA8, which creates an M1 MA8 support line, near the 3482 level.

Price does holds right at the 3465 level as expected for the 1800 hr, with 1 minute remaining before 1900.

1800 = 1900. Holding Long. Version 4 targets have been revised (see above profile). Once again, looking for Target 2, Version 4, to bailout an out of phase OmegaWave trade that has been held hostage now since hour 1500 - four hours of being inside the Draw Trap and behind the power curve. MxO is still lurking and untouched for this session. Looking for OmegaWave to line-up with Direction for a decent finish to the trading day, as the Friday close is nearing and end of week OmegaWave compression is imminent.

In phase, out of phase, in phase, out of phase and back in phase. That's pretty much the signature of today's performance. Back in phase on Omega-Absolute this time and looking for a strike on its MxO/Target 2.

Talking to oneself is tiring after a while, you know... but don't despair, he has littered every trading forum with his drivel in the past and will sooner or later resurface again, posting the latest developments on his systems.

Meanwhile,I suggest we brush up on quantum mechanics and finally grasp that string theory to keep up with Stealth- err, Jettrader so that may finally get a grip on what Jet is talking about in his journal.